the korea-u.s. free trade agreement is also a bread-and-butter issue for maximizing welfare of koreans and americans. however, the economic issue has become highly politicized. opponents argue that the deal needs renegotiation or scrapping for two reasons. first, it has “serious procedural flaws” as the ruling party passed the deal without public consent. second, they argue that purported gains from the accord do not benefit all “democratically.”

democratizing the economy sometimes smacks of ideological overtones. democracy is intrinsically a political word denoting one vote for one person.

foreign investors might hesitate to invest in korea if lawmakers try to break market principles in the name of economic democratization.

the saenuri party’s campaign slogan came out apparently to soothe public anger over the economic hardship ordinary citizens have been enduring.